"17 months of rises, and you think its not time to cool off?"
Dalek - do I detect a touch of bearishness?
Perhaps not you personally- but alot of people will certainly be forced to sell at a loss - even if prices flatten. Because they have bought on the assumption that property always appreciates and have geared up on that naive belief. Unfortunately if you happen to own a house in the same street.... well you know the rest
Its really not that different from a bull stock market in the sense that people who can't really afford to maintain a car, have been jumping into property up to their necks. You may not know them - I do!
